NEW YORK CITY, February 28, 2007 -- United Technologies Corp. (NYSE:UTX) outlined expectations for 2007 this afternoon at its annual investor conference in New York. In addition to reviews of each of UTC’s operating segments, the company reaffirmed its earlier outlook for 2007 earnings per share in the range of $4.05 to $4.20, and for cash flow from operations less capital expenditures exceeding net income. Revenues for the year are expected to increase to more than $51 billion, including organic growth of 6 percent.

During the first quarter, the Company expects to recognize a charge for the previously disclosed European Commission fine assessed against Otis Elevator. UTC also expects one time benefits in the quarter which, combined with a previously established reserve for the matter, will reduce the net impact of the fine to approximately 7 cents per share.

United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries. Additional information as well as a Web cast from the conference is available on the Internet at http://www.utc.com.

This release includes "forward-looking statements" concerning expected revenue, earnings and cash flow; an expected litigation-related charge; and the expected net impact of the charge after anticipated one-time benefits. These matters are subject to risks and uncertainties. Important factors that could cause actual results to differ materially from those anticipated or implied in forward looking statements include the health of the global economy; strength of end market demand in building construction and in both the commercial and defense segments of the aerospace industry; fluctuation in commodity prices, interest rates, foreign currency exchange rates, and the impact of weather conditions; and company-specific factors including the availability and impact of acquisitions; the rate and ability to effectively integrate these acquired businesses; the ability to achieve cost reductions at planned levels; challenges in the design, development, production and support of advanced technologies and new products and services; delays and disruption in delivery of materials and services from suppliers; labor disputes; and the outcome of legal proceedings. For information identifying other important economic, political, regulatory, legal, technological, competitive and other uncertainties, see UTC's SEC filings as submitted from time to time, including but not limited to, the information included in UTC's 10-K and 10-Q Reports under the headings "Business," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Cautionary Note Concerning Factors that May Affect Future Results," as well as the information included in UTC's Current Reports on Form 8-K.